European Internal Market

Paper Summary:

The paper examines the rationale for the establishment of the single European market (SEM) and addresses the economic processes which were expected to generate welfare gains. The paper explores the extent to which economic growth perspectives imagined by the Commission of European Communities have turned into reality.

Outline:
Rationale of the 1985 White Paper on Completing the Internal Market
The Economic Effects of the SMP
Evaluation of the Effects of the SMP as Opposed to Commission' Predictions
Conclusion

From the Paper:

"The beginning of the 1980s was marked by growing Euro-pessimism in the Community which was caused by political tensions and severe economic problems. European economies were suffering from their inability to respond to the number of challenges which they faced as a result of economic recession of the late 1970s, unfolding globalization and unstoppable technology development. It was increasingly recognized, that market rigidities of member states hindered Community's international competitiveness and economic growth and inhibited innovations. The 1985 White Paper on the Single Market Program (SMP) drafted by Commission President Delors and Commissioner Lord Cokfield signified determination to create a unified economic community which would provide a background for regeneration of European industry and future prosperity of European citizens. In the course of more than two decades achievements of the SMP have been subject to continuous reassessment and critics. Although analysts agree that Internal Market has contributed to the economic renewal of the EU, they also argue that its potential has not been yet fully exploited."

Sample of Sources Used:

• Commission of the European Communities (1996) Economic evaluation of the internal market , European economy, No. 4
• Commission of the European Communities (1996) Review of the Internal Market, Working Paper, online resource
• Commission of the European Communities, The Internal Market, 10 years without frontiers (2002), online resource
• Commission of the European Communities (2006), Steps towards a deeper economic integration: the Internal Market in the 21st century, Economic Papers N 271
• Cecchini, P. (1988) The European Challenge, European Commission

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